Prince Charles and the Duchess of Cornwall
The Prince of Wales and the Duchess of Cornwall's tax affairs are under scrutiny.
Prince Charles and the Duchess are under investigation this afternoon (15.07.13) by the Public Accounts Committee who will decide whether the prince is paying his equal share of tax and examine why the Duchess doesn't pay corporation tax or capital gains tax.
The princes' Senior Official, William Nye, has been called forward to give evidence to the House of Commons later today, as well as Keith Wills - who is the Duchess' finance director- and the HM Treasury's officer of accounts Paula Diggle.
The majority of the princes' £20 million annual income is generated by the Duchess - who owns agricultural, commercial and residential properties - but it has fallen under inspection after it emerged that the estate doesn't pay tax on profit from its rent.
This is the second time the royal accounts have been examined this way after 2006, when the committee accused the princes' representatives of financial "jiggery pokery".
William said previously: "The Duchy does not pay corporation tax or capital gains tax for the simple reason it is not a corporation. The Prince voluntarily pays income tax at the 50 per cent rate, after his official expenses and costs have been deducted. We will be more than happy to explain this."
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